The 340B Drug Pricing Program helps participating organizations – or covered entities – use savings on prescription drug costs to offer more comprehensive services and care for more eligible patients.
Many organizations choose to focus on providing care by partnering with a contract pharmacy to dispense 340B medication. Looking for a partner that will help you navigate and fully leverage the benefits of 340B? Here are five traits to prioritize in a contract pharmacy.
- 340B expertise: Navigating new requirements, policy changes and the evolving landscape of the 340B Program can be a challenge, but your team doesn’t have to go it alone. As you search for a contract pharmacy partner, ensure they’re an expert in all things 340B by asking them what their experience is with the program and how they’ll help you get the most out of it.
- Low dispensing fees: Entities participating in the 340B Program typically save 25 to 50% on prescriptions1 and reimburse their contract pharmacy partner an agreed-upon dispensing fee for their services. These fees can vary significantly between contract pharmacies, and often involve tiered pricing based on the type of drug dispensed. Ask potential pharmacy partners about their dispensing fees to see how far you can stretch your 340B savings when working with them.
- Dedicated support: From ensuring initial eligibility to managing recertifications and reimbursements, you’ll need a committed resource while you participate in the 340B Program. As you compare potential contract pharmacy partners, look for one that will offer your entity an account manager who can provide the dedicated support and information you deserve.
- Behavioral health expertise: Your consumers living with behavioral health conditions have unique needs and barriers to care. As you explore your options for a 340B contract pharmacy, look for one that has expertise in serving the behavioral health community, offers specialized training for their teams behind the pharmacy counter and provides high-touch, stigma-free care.
- Benefits beyond 340B: Dispensing should be just the beginning on your contract pharmacy’s list of offerings. Ask your potential partner if they offer tools to boost adherence at no extra cost – like specialized packaging, mailing, adherence calls and reporting so your staff has the information they need to provide great care.
Partner with a contract pharmacy you can trust
Genoa Healthcare has specialized in 340B dispensing for over 20 years, securing maximum reimbursements for behavioral health clinics across the U.S. With Genoa, you can expect best-in-class 340B dispensing fees, a dedicated account manager to help you navigate the 340B Program and added benefits like free pre-filled pill organizers, mailing, adherence calls and reporting.
Want to get the most out of 340B?
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About the author
Genoa Healthcare Vice President of Sales, Kevin O’Connell, RPh, oversees Genoa’s sales team and external growth initiatives. He works to expand the organization’s pharmacy footprint across the U.S., ensuring Genoa’s unique, high-touch approach to pharmacy services touches the lives of more care team members and the people they serve.
The information provided in this blog post does not, and is not intended to, constitute legal advice. All of the information, content, materials, and links to third-party websites provided are intended for general informational purposes only.